During its current run on San Francisco Bay, the America’s Cup has provided both tragedy and comedy. Bickering, cheating and recrimination are commonplace. And now you can add surrender to the list of human foibles on stage, thanks to Oracle Team USA’s astonishing decision to walk away from Tuesday’s racing on San Francisco Bay.

If you watched the first race of the day, you might have agreed with Oracle’s decision to bail on the second. Emirates Team New Zealand trounced Larry Ellison’s defending champions in a race that started out tight but ended in a rout due to a series of tactical errors by Team USA. The victory gave the Kiwis a commanding lead in the race for sailing’s ultimate prize. New Zealand needs five more wins to take the Cup back to Auckland; Oracle needs to win 10.

So, instead of dusting themselves off and getting back in the fight, Oracle decided to pack up its sails before the second race scheduled for Tuesday, playing the one-time, “no more for us” card afforded to both teams in the Cup finals.

Normally, a team uses its “postponement card,” as it is officially known, if the boat experiences mechanical failures or unfavorable wind conditions. In this case, Oracle just wanted to take its ball and go home.

“We feel like we need to regroup,” said Oracle skipper Jimmy Spithill, admitting there were no mechanical problems with his boat. “It’s obvious. We need to make some changes.”

That may be true, but it sure felt like poor sportsmanship. What kind of competitors walk off the playing field when things aren’t going their way? Not many. But the unsavory move was within the rules of engagement set up by Ellison and his team prior to the start of this 34th America’s Cup.

And that seems to suit New Zealand just fine. The team just keeps showing up and beating Oracle, regardless of the time or day. It’s a loose bunch of guys who are here to win, while having some fun along the way.

That attitude makes it hard to root against the Kiwis. So, apparently, nobody does.

A walk along the Embarcadero before Tuesday’s action revealed a sea of “Fly Emirates” jerseys and Auckland accents.

Dave McKenzie and Richard Dreverman, two sailing fans from Wellington, were attaching large New Zealand flags to their rented bikes early Tuesday, praising San Francisco and flashing the trademark Kiwi wit.

“I’ve been here a month and I’m not sick of it,” McKenzie said. “Of course, I had to quit my job to do this.”

Dreverman didn’t miss his chance: “Truth is, no one will employ him.”

Cheers, mate, and off they went. Just two among thousands of New Zealanders who have descended on San Francisco to steal our hearts and take Ellison’s Cup.

Chatting with New Zealand fans at their team headquarters after the race, many were surprised at the lack of national rooting interest in the U.S.

David Melickan of Auckland flew in to catch a few races with his mates.

“I was having breakfast this morning and a woman leaned over and said, ‘I hope you guys win,’ ” said Melickan, a self-described “ol’ yachtie” from way back. “I’m thinking, ‘What the heck is happening here? Why aren’t they rooting for the home team?’ I think it’s Larry.”

I think you’re right, Dave. Whichever way you cut your jib, Larry Ellison’s substantial hubris hangs over the America’s Cup proceedings like a shroud. Which is too bad. The man invested hundreds of millions of dollars to improve the sport of sailing, only to suffer embarrassment and disdain on his home turf.

Although Spithill said the decision to quit Tuesday’s racing was made on the Oracle catamaran, here’s guessing the decision came from Ellison’s nearby yacht. The billionaire does not like to lose. And changes will be made before Oracle gets back in the water Thursday.

We could see native New Zealander Russell Coutts take the helm from Spithill. And don’t be surprised if Bay Area native John Kostecki loses his job as team tactician.

Until then, the Kiwis will keep the party going in San Francisco. And local sailing fans will enjoy the Cup while they can.

“I love that the America’s Cup is here and I wish it would stay here,” said Michael Stoner, 47, of Menlo Park. “But going to Auckland also sounds good. I just wish it were more competitive.”

Others will simply enjoy the party.

“I have Kiwi fever,” said Lisa Gordon, also of Menlo Park. “I love ‘em. Their spirit. Their sense of adventure. Their friendliness. And they like to party.”

And there it is: the kernel of truth at the bottom of the America’s Cup barrel. San Francisco has always been a hardscrabble town that will fight for its right to party. And, certainly, most definitely, San Franciscans never walk away from a fight.

Team New Zealand is a publicly funded entity, fighting for the pride of a nation of 4.4 million with a GDP smaller than that of Colorado.

Simply put, Team New Zealand is a lot more San Francisco than Larry Ellison will ever be.

So, you may want to get down to the America’s Cup village, party with the Kiwis and take a picture of the trophy soon. It might not be around much longer.